排序方式: 共有17条查询结果,搜索用时 15 毫秒
1.
Economics of Radiation Protection: Equity Considerations 总被引:1,自引:1,他引:0
Schneider Thierry Schieber Caroline Eeckhoudt Louis Gollier Christian 《Theory and Decision》1997,43(3):241-251
In order to implement cost-benefit analysis of protective actions to reduce radiological exposures, one needs to attribute a monetary value to the avoided exposure. Recently, the International Commission on Radiological Protection has stressed the need to take into consideration not only the collective exposure to ionising radiation but also its dispersion in the population. In this paper, by using some well known and some recent results in the economics of uncertainty, we discuss how to integrate these recommendations in the valuation of the benefit of protection. 相似文献
2.
This work studies the implications of some aspects of preferences toward risk in the choice between two binary lotteries exhibiting a common consequence. The results obtained are then applied to two different problems: the choice between two risky challenges characterized by different rewards in the case of success and different probabilities of success and the choice between self-protection and self-insurance in the presence of the risk of incurring financial loss.
相似文献3.
Louis Eeckhoudt Christian Gollier Michel Levasseur 《Journal of Risk and Uncertainty》1993,7(3):325-337
In this paper we address the problem of determining whether adding independent risks or subdividing them is a good substitute for insurance. Despite the fact that accepting more i.i.d. risks increases total risk, it is shown that some risk-averse decision makers can rationally reduce their demand for insurance by doing so. Similarly, a better diversified portfolio of i.i.d. risky assets can rationally be more insured, even if diversification is a risk-reduction scheme. We derive conditions sufficient to obtain unambiguous comparative statics results. Assuming that absolute risk aversion is decreasing and that the fourth derivative of the utility function is positive, we show that diversification is an exceptionally good substitute for insurance. Under the same conditions, adding independent risks to wealth reduces the demand for insurance on each unit. 相似文献
4.
Bleichrodt Han Crainich David Eeckhoudt Louis Treich Nicolas 《Theory and Decision》2020,89(2):137-149
Theory and Decision - Diagnostic tests allow better informed medical decisions when there is uncertainty about a patient’s health status and, therefore, about the desirability to undertake... 相似文献
5.
The degree of downside risk aversion (or equivalently prudence) is so far usually measured by . We propose here another measure, , which has specific and interesting local and global properties. Some of these properties are to a wide extent similar to
those of the classical measure of absolute risk aversion, which is not always the case for . It also appears that the two measures are not mutually exclusive. Instead, they seem to be rather complementary as shown
through an economic application dealing with a simple general equilibrium model of savings.
相似文献
David CrainichEmail: |
6.
The article gives a graphical interpretation of the concept of risk vulnerability. It shows that in a specific context of
binary lotteries the assumption of risk vulnerability adds to prudence what the assumption of decreasing absolute risk aversion
adds to risk aversion. We end the presentation showing that results can be extended to the concept of multiplicative risk
vulnerability. 相似文献
7.
8.
Dachraoui Kaïs Dionne Georges Eeckhoudt Louis Godfroid Philippe 《Journal of Risk and Uncertainty》2004,29(3):261-276
We analyze the optimal choices of agents with utility functions whose derivatives alternate in sign, an important class that includes most of the functions commonly used in economics and finance (Mixed Risk Aversion, MRA, Caballé and Pomansky, 1996). We propose a comparative mixed risk aversion definition for this class of utility functions, namely, More Risk Averse MRA, and provide a sufficient condition to compare individuals. We apply the model to optimal prevention and willingness to pay. More risk averse MRA agents spend less to reduce accident probabilities that are above 1/2. They spend more only when accident probabilities are below 1/2. Explanations in terms of risk premiums are provided. The results presented also allow for the presence of background risk. 相似文献
9.
Background Risks and the Value of a Statistical Life 总被引:1,自引:0,他引:1
We examine the effects of background mortality and financial risks on an individual's willingness to pay to reduce his mortality risk (the value of statistical life or VSL). Under reasonable assumptions about risk aversion and prudence with respect to wealth in the event of survival and with respect to bequests in the event of death, background mortality and financial risks decrease VSL. The effects of large mortality or financial risks on VSL can be substantial, but the effects of small background risks are negligible. These results suggest that the commonplace failure to account for background risk in evaluating VSL is unlikely to produce substantial bias in most applications. 相似文献
10.
Since Fishburn and Porter (1976), it has been known that a first-order dominant shift in the distribution of random returns of an asset does not necessarily induce a risk-averse decision maker to increase his holdings of that improved asset. To obtain the desired comparative statics result, one has to further restrict the class of changes in the distribution. In this article, we propose the “monotone probability ratio” criterion which is more general than the “monotone likelihood ratio” criterion currently used in the literature. 相似文献